390 cylinder compression

I think I have a leaking valve guide seal causing some smoke. I hope it's a valve and not the piston rings. Just to be sure I want to check the cylinder compression. Does anyone know what the cylinder compression should read on a 1964 390ci?

Would leaking valve seals effect pressure? Would this test really eliminate the piston rings, or would low compression be read even on a leaking valve? How can I rule one or the other out? HELP?????

I believe most stock V8's were upto 150 psi cranking pressure. Remove all spark plugs or the engine will not spin fast enough on the starter to get an accurate reading. Anything from 130ish-165 is acceptable if nominal is 150. A bad valve guide or leaking valve seal will not show on a compression test. A worn out engine with leaking rings will show low on all cylinders. Add a little oil through the spark plug hole. If compression is still low, it is a bad valve. If it comes up to 150 or so, it's bad rings.